Pfizer Inc., the world's largest drugmaker, reports earnings for the fiscal third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Pfizer let go Chief Executive Hank McKinnell in July under pressure from investors angered over an $83 million retirement package after watching the company's stock price drop about 40 percent over McKinnell's five years at the helm. The company replaced McKinnell with former chief counsel Jeff Kindler, who quickly set the tone to reform the company.

EXPECTATIONS: Analysts surveyed by Thomson Financial expect third-quarter earnings per share of 45 cents on revenue of $11.38 billion.

ANALYST TAKE: Banc of America analyst Chris Schott, who rates Pfizer a "Buy," expects the company to top the consensus by a penny per share on contained expenses. Merrill Lynch's David Risinger also expects Pfizer to report earnings per share ahead of consensus.

Deutsche Bank analyst Barbara Ryan, who also lists Pfizer a "Buy," called the company one of her top picks this earnings season given that management shake-ups at Big Pharma within the past year have made cost cutting more imperative. JPMorgan's Chris Shibutani, who rates the stock "Overweight," believes Pfizer will report in line with consensus as he looks forward to a more detailed management plan to streamline the company.

WHATS AHEAD: A more detailed unveiling of Kindler's plan for Pfizer is expected at a January analyst meeting, or at a Nov. 30 research and development meeting at the earliest, Shibutani said.

STOCK PERFORMANCE: Shares of Pfizer rose nearly 21 percent to close the third quarter at $28.36 on the New York Stock Exchange, compared with a 7 percent rise in the American Stock Exchange's Pharmaceutical Index, which tracks 15 major drug makers. Pfizer shares are up nearly 22 from the beginning of the year.